XSB.TO vs. VGSH
XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - XSB.TO is a Short-Term Bond fund tracking the FTSE Canada Short Term Overall Bond Index, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, XSB.TO returned 2.01%/yr vs 2.76%/yr for VGSH. At a 0.15 correlation, their price movements are largely independent. XSB.TO charges 0.10%/yr vs 0.03%/yr for VGSH.
Performance
XSB.TO vs. VGSH - Performance Comparison
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Different Trading Currencies
XSB.TO is traded in CAD, while VGSH is traded in USD. To make them comparable, the VGSH values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XSB.TO achieves a 1.36% return, which is significantly lower than VGSH's 4.40% return. Over the past 10 years, XSB.TO has underperformed VGSH with an annualized return of 2.01%, while VGSH has yielded a comparatively higher 2.76% annualized return.
XSB.TO
- 1D
- 0.11%
- 1M
- 0.52%
- YTD
- 1.36%
- 6M
- 1.33%
- 1Y
- 3.11%
- 3Y*
- 5.03%
- 5Y*
- 2.15%
- 10Y*
- 2.01%
VGSH
- 1D
- 0.51%
- 1M
- 3.42%
- YTD
- 4.40%
- 6M
- 4.60%
- 1Y
- 6.65%
- 3Y*
- 6.99%
- 5Y*
- 4.83%
- 10Y*
- 2.76%
XSB.TO vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.36% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | 0.13% |
VGSH Vanguard Short-Term Treasury ETF | 4.39% | 0.28% | 12.81% | 1.82% | 2.23% | -0.64% | 0.59% | -0.75% | 10.09% | -6.74% |
Correlation
The correlation between XSB.TO and VGSH is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.15 |
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Return for Risk
XSB.TO vs. VGSH — Risk / Return Rank
XSB.TO
VGSH
XSB.TO vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) and Vanguard Short-Term Treasury ETF (VGSH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XSB.TO | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.72 | +0.39 |
| Martin ratioReturn relative to average drawdown | 7.02 | 4.21 | +2.82 |
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Drawdowns
XSB.TO vs. VGSH - Drawdown Comparison
The maximum XSB.TO drawdown since its inception was -8.65%, smaller than the maximum VGSH drawdown of -16.61%. Use the drawdown chart below to compare losses from any high point for XSB.TO and VGSH.
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Drawdown Indicators
| XSB.TO | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -16.61% | +7.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -3.87% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | -5.99% | +4.52% |
Max Drawdown (5Y)Largest decline over 5 years | -6.99% | -6.36% | -0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -16.61% | +7.96% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -6.27% | +5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.58% | -1.14% |
Volatility
XSB.TO vs. VGSH - Volatility Comparison
The current volatility for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) is 0.50%, while Vanguard Short-Term Treasury ETF (VGSH) has a volatility of 1.26%. This indicates that XSB.TO experiences smaller price fluctuations and is considered to be less risky than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSB.TO | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 1.26% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 3.39% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 4.72% | -2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 6.58% | -3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.40% | 6.85% | -3.45% |
XSB.TO vs. VGSH - Expense Ratio Comparison
XSB.TO has a 0.10% expense ratio, which is higher than VGSH's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XSB.TO vs. VGSH - Dividend Comparison
XSB.TO's dividend yield for the trailing twelve months is around 3.10%, less than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.87% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
XSB.TO and VGSH have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGSH is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.10% for XSB.TO.
XSB.TO is categorized as Short-Term Bond, while VGSH is Government Bonds. XSB.TO tracks FTSE Canada Short Term Overall Bond Index, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for XSB.TO and 0.03% for VGSH.
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